Industries Economic Development

North Carolina cited for Top Business Climate in 2012

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Site Selection magazine has named North Carolina as the state with the Top Business Climate for 2012. As revealed in its November 2012 issue, research based in part on a survey of corporate real estate executives identified the Tar Heel State’s overall climate for capital investment to be the best in the U. S. North Carolina replaced Texas, which held the top slot last year. Ohio came in second this year, followed by Texas, Georgia and Virginia.

North Carolina Gov. Bev Perdue says her state’s quality work force and work-force training resources are key drivers of the business climate. “Early on, businesses talk about the quality of the work force and the training they find at the community colleges,” she told Site Selection. “We have a good brand and a robust incentive package – not as strong as in some other states, but when you package together the local communities and the state and our ability to train workers, it adds up.”

The annual business climate rankings are determined 50 percent by an index of tax burden criteria according to the Tax Foundation and KPMG’s Location Matters analysis and the states’ performance in Conway Data’s New Plant Database, which tracks new and expanded business facility activity. The remaining 50 percent is based on a survey of corporate site selectors. The survey asks, “Based upon your experience, what are the top 10 state business climates, taking into consideration such factors as lack of red tape, financial assistance and government officials’ cooperation?”

By this measure Texas ranked first, followed by North Carolina, Virginia, Tennessee and South Carolina.
“North Carolina is a regular top finisher in our annual analysis of state business climates, with 10 first-place rankings in the last 12 years,” Site Selection Editor- in-Chief Mark Arend said in a statement.  “Executives at companies investing there consistently point to its pro-business environment, proactive economic developers on the state and local levels, plentiful higher education resources, favorable climate and advantageous location on the East Coast.”

1. North Carolina
2. Ohio
3. Texas
4. Georgia
5. Virginia
6. Alabama
7. Louisiana
8. Tennessee
9. South Carolina
10. Florida

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